Sailfish Royalty Reports Q3 Revenues Of US$0.6 Million, Positive Net Income

Sailfish Royalty Corp (TSXV: FISH) this morning released its financial results for the third quarter of 2021. The gold royalty firm reported revenues of US$0.6 million, along with a net income of $3.1 million.

Revenues for the quarter were up substantially following its flagship asset, the royalty on Mako Mining’s (TSXV: MKO) San Albino Gold Mine, entering commercial production at the middle of July. Revenues hit $0.6 million for the quarter, while year to date revenues are sitting at $0.8 million.

Gross profit meanwhile totaled $0.3 million, following cost of sales and depletion from its gold streams. Operating expenses hit $0.7 million for the quarter, demonstrating how early the royalty company is in hitting its stride. The largest expenses for the quarter was share based compensation of $0.2 million, followed by professional fees of just over $0.1 million.

The largest impact this quarter came from the gain on disposal of assets to the tune of $3.9 million, which was partially offset by impairments to royalty assets of $0.6 million. The firm overall posted a net income of $3.0 million for the quarter as a result.

Despite the operating loss, the company this quarter also launched a dividend to shareholders, which at $0.0125 per quarter, represents a yield of roughly 4% currently. The company currently has a cash position of $3.8 million.

Sailfish Royalty last traded at $1.49 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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